Co-op Dividends Good for your Next of kin

[grefer]

I'm getting to that age when the next light in my eyes may not be a train coming so I thought I would check in to see when I could actually cash out my dividends from our local coop. Turns out its 70. Are you kidding me? I said to the chuckling lady on the other end that I thought we might be able to get them out while we could actually use them. With the same chuckle she said "Noooo" More B.S.

[farmaholic]

But its tax paid money you will be receiving with 0% rate of return on those locked in dividends. Basically a 0% loan to the "Trust Company"...aka Federated Co-op.


We all hope to make it to 70 to personally get them.

Just think what affect inflation is having on those funds...lol.

[farmaholic]

What kinda bugs me more than anything is I am alot closer to getting those dividends than I am to the time I "started" farming. I am twice as far from my farming start date than I am to receiving those dividends.

[Guest]

What kinda bugs me more than anything is I am alot closer to getting those dividends than I am to the time I "started" farming. I am twice as far from my farming start date than I am to receiving those dividends.

a riddle, I guess your age to be 54?

[grefer]

It made me wonder a few years back how many never get paid out. Here is the story. My mom and dad lived a long healthy life for the most part. There came a time when they wanted me to look after their financial affairs as it was getting to be just a worry for them to make sure everything was being looked after. So I did. The problem was that they still received their own mail so I never saw the statement coming from the co-op of their Dividends. They just looked at it then chucked it as they had been doing for years I guess. Then came the time they had to move into a home because they needed more care. That's when I discovered that they had never applied to get their Dividends out. I called the office and asked the same question. When can my 90 something dad withdraw their money. Ohhh they proclaimed. He can get them out immediately. So I did. Question. What would have happened if no one called. More B.S.

[farmaholic]

a riddle, I guess your age to be 54?

Going to be. Just about as old as dirt.

[SASKFARMER3]

No Dirt is older than you hahahahaha

[farmaholic]

No Dirt is older than you hahahahaha

Most of the soil organic matter in the Slum of the Ghetto is younger than me!

[samhill]

K, here’s my joke of the day: bought co-op membership in 1969. At age 65 asked for equity. Said have to be 70. I said when I bot share was 65. They said no. Said let me see contract, had my copy of purchase. Co-op said no. Went to directors monthly meeting and explained. Showed them cooperatives provincial act saying members can see records anytime during business hours. Manager said no.
Provincial act says “ penalty for refusal is $5000 fine or month in jail”. They didn’t know that as I didn’t explain that to them. They sent me a letter signed refusing till I was 70 .
So, had em by short hairs, but I’m not gonna donthat to a neighbor, even though I really needed the money. Let it drop.

[Partners]

Unless you get lucky and your local coop is going to amalgamate with a bigger coop..then you get a total equity payout ..yay archerwill..

[Herc]

If you move away from the trading region you can get your equity paid out as well.

[farmaholic]

I belong to two Co-ops...one a shoe string budget single location and the other Sherwood in Regina. Sherwood has been paying higher dividends but retains a portion of them. The small Co-op pays most of the "yearly" earned dividend out but is(has been) a smaller percentage than Sherwood, but they never always did that.

Member equity is the Co-op's liability...don't they have to make sure the have assets and Federated equity to cover that?

[grefer]

Unless you get lucky and your local coop is going to amalgamate with a bigger coop..then you get a total equity payout ..yay archerwill..

Mine did. My equity just rolled into the bigger one. They like spending money so not great Dividends either. Pretty much have said screw it and buy where it makes most sense. Trying to support the local coop it seems to only prolong the inevitable.

[RD414]

Neighbor wanted his equity out, wife left and he was getting out of here. Told no, wait till whenever, he charged up enough to cover the amount and didn't pay the bill. They took it from his equity. Game over.

[farmaholic]

Neighbor wanted his equity out, wife left and he was getting out of here. Told no, wait till whenever, he charged up enough to cover the amount and didn't pay the bill. They took it from his equity. Game over.

Touché